Eqis Capital Management Inc. Lowers Position in Itron, Inc. (ITRI)

Eqis Capital Management Inc. lowered its stake in Itron, Inc. (NASDAQ:ITRI) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,986 shares of the scientific and technical instruments company’s stock after selling 64 shares during the period. Eqis Capital Management Inc.’s holdings in Itron were worth $406,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State of Alaska Department of Revenue increased its stake in Itron by 80.4% in the second quarter. State of Alaska Department of Revenue now owns 6,637 shares of the scientific and technical instruments company’s stock worth $449,000 after buying an additional 2,957 shares during the period. Daiwa SB Investments Ltd. boosted its position in shares of Itron by 11.7% in the second quarter. Daiwa SB Investments Ltd. now owns 20,043 shares of the scientific and technical instruments company’s stock worth $1,358,000 after buying an additional 2,093 shares in the last quarter. Capital One National Association boosted its position in shares of Itron by 4.8% in the second quarter. Capital One National Association now owns 11,955 shares of the scientific and technical instruments company’s stock worth $810,000 after buying an additional 550 shares in the last quarter. Perigon Wealth Management LLC boosted its position in shares of Itron by 7.9% in the first quarter. Perigon Wealth Management LLC now owns 10,610 shares of the scientific and technical instruments company’s stock worth $644,000 after buying an additional 780 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Itron by 6.3% in the first quarter. Public Employees Retirement System of Ohio now owns 80,124 shares of the scientific and technical instruments company’s stock worth $4,864,000 after buying an additional 4,760 shares in the last quarter. 95.25% of the stock is owned by hedge funds and other institutional investors.

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Shares of Itron, Inc. (NASDAQ ITRI) traded down 2.06% on Friday, reaching $71.15. The company had a trading volume of 241,683 shares. The firm has a market capitalization of $2.75 billion, a PE ratio of 88.06 and a beta of 1.10. Itron, Inc. has a 12 month low of $47.20 and a 12 month high of $75.60. The company’s 50-day moving average is $71.57 and its 200 day moving average is $65.93.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. Itron had a return on equity of 15.43% and a net margin of 1.60%. The firm had revenue of $503.10 million during the quarter, compared to analysts’ expectations of $491.80 million. During the same period last year, the firm posted $0.65 EPS. The business’s revenue was down 1.9% on a year-over-year basis. Equities analysts forecast that Itron, Inc. will post $3.07 earnings per share for the current year.

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A number of research analysts have recently weighed in on ITRI shares. Robert W. Baird restated an “outperform” rating and issued a $73.00 price target on shares of Itron in a research report on Thursday, July 13th. Zacks Investment Research upgraded Itron from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, May 2nd. JMP Securities set a $88.00 price objective on Itron and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Canaccord Genuity restated a “buy” rating and issued a $72.00 price target on shares of Itron in a report on Friday, May 26th. Finally, Cowen and Company set a $60.00 price objective on Itron and gave the company a “hold” rating in a research note on Friday, July 21st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $79.00.

About Itron

Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.